Panther Metals PLC (LSE:PALM) said analysis of a soil sampling programme has yielded a number of stand-out gold anomalies and high priority targets on the Dotted Lake property in Ontario, Canada.
It added that a further seven element groupings, which provide vectors towards orogenic style gold mineralisation, have been flagged for further investigation.
"Following a comprehensive analysis of the Dotted Lake soil assay data which followed on from the geochemical sampling programme undertaken this summer, we have succeeded in delineating a 1.3km long shear-related gold anomaly which trends westward from the 18.9g/t Au sample Panther obtained from a historical trench and westward from the site of Panther's Dotted Lake drill hole,” said chief executive Darren Hazelwood.
“In addition, a further four distinct gold anomalies associated with interpreted intrusive contacts, or other structural features, have been identified as well as a total 18 multi-element anomalies which may provide exploration vectors towards orogenic style gold deposits.
“Whilst we wait for the core from Panther's Dotted Lake diamond drill hole to be assayed, we are planning a work programme to follow-up on these exciting findings,” he said.
Dotted Lake is located about 20km from Barrick Gold Corp’s Hemlo gold mine, which has produced more than 21 million ounces of gold and been operating continuously for more than 30 years.